MIRA
INFORM REPORT
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Report Date : |
10.09.2007 |
IDENTIFICATION DETAILS
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Name : |
RAGHAV INDUSTRIES |
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Registered Office : |
A – 232-233, Vardhaman Grand Plaza, Mangalam Place, District – Centre,
Sector – 3, Rohini, New Delhi – 110 085 |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1996 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Trading of Forged Products. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 10000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed concern having satisfactory
track. Proprietor is reported as experienced and respectable businessman. Trade
relations are reported as fair. Business is active. Payments are usually
correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
A – 232-233, Vardhaman Grand Plaza, Mangalam Place, District – Centre,
Sector – 3, Rohini, New Delhi – 110 085, India |
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Tel. No.: |
91-11-27946324 / 65848634 / 27947554 / 27556914 |
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Mobile No.: |
91-9811060161 |
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Fax No.: |
91-11-27946324 |
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E-Mail : |
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Website : |
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Area : |
572 Sq. fts. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Ajay Gupta |
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Designation : |
Proprietor / Chief Executive Officer |
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Address : |
65, Amit Apartment, Sector – 13, Rohini, |
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Date of Birth/Age : |
35 years |
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Qualification : |
Graduate |
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Experience : |
13 years |
BUSINESS DETAILS
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Line of Business : |
Trading of Forged Products. |
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Products : |
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Brand Names : |
ORVEL |
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Exports to: |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
PRODUCTION STATUS
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Particulars |
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Actual
Production |
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Forged Products. |
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150 Tonnes Per
Month |
GENERAL INFORMATION
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Suppliers : |
Own Manufacturing |
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Customers : |
v
Mahindra and Mahindra Limited v
Scooter India Limited v
Indian Railways |
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No. of Employees : |
20 |
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Bankers : |
State Bank of Sector -9, Rohini, |
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Facilities : |
- |
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Banking Relations
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Satisfactory |
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Associates/Subsidiaries : |
v
Top Forty
Suspension Year of Establishment: 1982 v
Top Forty
Suspension Private Limited CIN: U74899DL1994PTC056875 Regd. On: 12.01.1994 Registered Office: WP – 523, Factory: Shastri Nagar Industrial Area, Tel. No.: 91-124-2469217, 3953464, 3953463 Fax No.: 91-124-2469217 v
CIN: U34300DL1998PTC091605 Regd. On: 09.01.1998 Regd. Office: WP-361/B, Activity of the Group: Manufacture complete new Front Wheel Drive
Axial Shafts and components. The Axie Shafts are manufactured with technical
know how from BAR CAP AUTOMOTIVE, Export: Canada, USA, Australia, UK,
Tanzania, Uganda, Botswana, South Africa, Nigeria, Sudan, Egypt, Turkey,
Netherlands Customer: Maruti, Fiat, Uno, Opel, Cielo,
Honda and Indica Group Employees: 200 Group Sales Turnover: Rs. 250.000 millions E-mail: sales@orvelindia.com ; info@orvelindia.com Website: http://www.orvelindia.com |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.500 Millions |
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Borrowed : |
- |
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Total : |
Rs. 2.500 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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8.000 |
7.500 |
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Profit/Loss for the year |
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12% |
12% |
Expected Sales (2007-08): Rs. 15.000 Millions
Expected Turnover: (2007-08): Rs. 300.000 Millions (Group Turnover)
LOCAL AGENCY FURTHER INFORMATION
Website details attached:
Subject is a leading manufacturer and exporter of wide range
of quality forged products and auto parts like Suspension Parts, Idler arms, Flanges, propeller shafts items, Gears,
Cups, U.J Cross, Gear Shifter Forks, Water Body hubs, Turbine Hubs, Two wheeler
and Three Wheeler Parts, Bushes, Tie Rod End, Ball Joints, Gears, Suspension
parts, Sheet Metal Components, Die Block. Being in this field for over a
decade they have not only gained a deep insight about the various requirements
of the automotive sectors but have also developed a long lasting relationship
with their customers by offering superior quality auto products and excellent
services.
During their decade old presence
in this field, they have established a respectable reputation in the market.
They have built a strong infrastructural set up that has enabled them to
manufacture quality forged products and auto products. Not only do they use
quality raw materials, they also use latest state of the art machines to
manufacture wide range of products.
- Band Saw Blades
- CNC Inserts
- Card Spring
- Disc Brake Pads
- Rubber Molded suspension bushes
- Chain links for Bulldozers and Earth
moves
They are manufacturer and exporter of:
- Forged Product:
Suspension Parts, Idler arms, Flanges, propeller shafts items. Gears,
Cups, U.J Cross, Gear Shifter Forks, Water Body hubs, Turbine Hubs, Two
wheelers, Three Wheeler Parts and Four Wheeler Parts.
- Auto Parts:
Bushes, Tie Rod End, Ball Joints, Gears, Suspension parts, Sheet Metal
Components and Bearings.
Exporting products to countries round the globe, they invite
inquires from prospective clients wishing to do business with us. They assure
us for premium quality products at reasonable prices along with prompt
delivery.
Primary Competitive Advantages
· Quality Assured
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Timely Delivery
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CNC Margins and Low Margins which
Reduce Production Cost
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Times and Inventory
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or investigation
registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 40.63 |
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1 |
Rs. 82.42 |
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Euro |
1 |
Rs. 55.96 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACT ITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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